MISSISSAUGA, ON, June 18 /CNW/ - Payment Services Interactive Gateway
Corp. ("PSiGate") (TSX Venture Exchange: PSG) today announced that its
previously announced proposed transaction with Authorize.Net Holdings, Inc.
("Authorize.Net") (NASDAQ: ANET) has been terminated due to the fact that
Authorize.Net is being acquired by CyberSource Corporation (NASDAQ: CYBS). The
CyberSource/Authorize.Net transaction was announced at the opening of markets
today.
Anthony Palumbo, President and CEO of PSiGate, commented "Although we are
disappointed to hear of CyberSource's proposed acquisition of Authorize.Net -
the effect of which has resulted in the termination of PSiGate's proposed
transaction with Authorize.Net, management of PSiGate remains very excited
regarding PSiGate's future opportunities, strong revenue and profit growth."
About PSiGate
PSiGate (www.psigate.com) empowers businesses on the Internet by
providing secure, cost-effective and trusted e-commerce solutions. PSiGate
provides an easy and seamless interface to new or existing online storefronts,
offering a reliable means of both real-time and batch payment collection and
financial transaction processing. PSiGate provides Internet Merchant Accounts
(Merchant IDs) for North American based businesses. As at the date of this
press release, the Company has 10,574,469 common shares outstanding.
This document may contain forward-looking statements, relating to the
Company's operations or to the environment in which it operates, which are
based on PSiGate's operations, estimates, forecasts and projections. These
statements are not guarantees of future performance and involve risks and
uncertainties that are difficult to predict, and/or are beyond PSiGate's
control. A number of important factors could cause actual outcomes and results
to differ materially from those expressed in these forward-looking statements.
These factors include those set forth in other public filings. Consequently,
readers should not place any undue reliance on such forward-looking
statements. PSiGate disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new information, future
events or otherwise.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.